Skip to Content
scroll

Updated thoughts on Iron Ore i.e. RIO,BHP & FMG

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

The Latest Q&A

Question asked

Updated thoughts on Iron Ore i.e. RIO,BHP & FMG

Hi James and Team Can I have your current view on Iron Ore. It has fallen back since early Jan when the likes of RIO, FMG and BHP reached all time highs. I know a lot of this is determined by China. However do you feel leading into Feb and their dividends they will rally back to all time highs? regards Deb

Answer

Hi Deb,

We do believe these three major iron ore miners will move largely as one although the greater diversification of BHP makes it less twitchy to the swings in the underlying iron ore price.

  • FMG has performed strongly since its late 2022 low and we can still see fresh highs above $30 over the coming weeks/months.
  • BHP continues to rotate between $40 and $50, MM is considering tweaking our positions accordingly at these extremes.
  • RIO has managed to outperform its peers over recent weeks, but we remain neutral, preferring BHP.
chart
image description
Fortescue Ltd (FMG)
image description

Relevant suggested news and content from the site

Back to top